Third party logistics provider Vascor has bought Commonwealth Express, a US-based provider of transport and brokerage services. The acquisition is expected to boost Vascor’s 2014 revenue by more than $20m. The company said the move is part of its plans to expand services in dedicated contract carriage, transactional and truck brokerage to automotive OEMs and suppliers, as well as companies in the industrial sector.
Commonwealth Express will now be rebranded as Vascor Transport. The company said it would retain the majority of its management and driver workforce. Combined with Vascor’s existing asset base, the new division will comprise more than 125 drivers and 100 trucks serving customers primarily in the US, east of the Mississippi.
“This acquisition is a manifestation of Vascor’s strategy to broaden our portfolio of services and allow us to create a larger platform for future growth,” said the company’s CEO, Bill Garrett.. “Vascor Transport will now as one entity leverage our combined experience and reach to grow our inbound logistics capabilities, as we continue to deliver service excellence to our customers.”
Vascor is a joint venture between Singapore-based supply chain management company APL Logistics and Fujitrans Corporation of Japan.